Imagine a government that knows that the enemy is coming and decides to withdraw its troops. This is what California authorities have done.

They claim to know that climate change will cause more natural disasters yet decided to eliminate key investments and budget items to offset the impact.

The southern California wildfires could cause between $52 billion and $57 billion in economic damage and at least five dead. Imagine a government that knows that the enemy is coming and decides to withdraw its troops.

This is what California authorities have done. They claim to know that climate change will cause more natural disasters yet decided to eliminate key investments and budget items to offset the impact.

If you want to really understand the current monetary system and the risks and opportunities it creates, you must read “The Age of Debt Bubbles“. This is a comprehensive, informed, and thorough analysis of the current global monetary system.

Debt bloats the global economy. Spending and debt, rather than savings and prudent investment, form the foundation of economic development.

This debt-based system, where sovereign debt is allegedly the safest asset and governments continue to stretch their solvency ratios, is constantly generating boom and bust cycles. Through a meticulous examination of historical data and trends, this book analyses the risks posed by the ever-expanding debt bubbles.

Independence of central banks has been under question for many years. However, the disappearance of “higher for longer” in 2024 erased any doubt about the monetary authorities’ lack of independence.

The Federal Reserve panicked in June 2024 and decided to delay the normalization of its balance sheet, coinciding with a period of massive deficit spending and Treasury debt issuance at elevated rates.

The Federal Reserve proceeded to implement an unnecessary 50 basis point rate cut during a period when financial conditions were at their loosest in years, growth was allegedly robust, and employment was solid, according to the Fed, but inflation remained above target.